Never rely on one single niche (or market segment) to make your
business prosper. The secret is to tap several niches and know that
some pay off sooner than others. If your business is in a slump,
focus on the niches that give faster returns; then concentrate on
the longer-return niches as your business begins to revive.

The following multiniche marketing plan can work for any
business, from a printing company to a small plastics manufacturer.
The niches I suggest you concentrate on fall into general
categories, but don't overlook the specialty segments of your
particular market area, either.

Here are six niches that produce excellent financial returns.
The first three produce the fastest returns on your efforts. The
last three take longer, so plan your time accordingly.

1. Satisfied past customers. If your business is
just coming out of a slump, this is the fastest way to jump-start
your sales. Remember, making the sale is only 25 percent of overall
sales excellence. The other 75 percent is repeat business.
Entrepreneurs who don't market to past customers are forced to
reinvent their businesses every year.

I doubled our company's profits by beginning each new year
going back to old customers and asking if I could serve them again.
I discovered I could turn satisfied past customers into loyal
customers--and once they became loyal customers, they became six
times more profitable than onetime satisfied customers.

What's the difference between satisfied and loyal customers?
Satisfied customers are still willing to listen to what the
competition has to say. Loyal customers think you're the best
thing out there. They spread so many positive words about you, you
can hardly keep up with the business.

When you call on past customers, tell them, "I've got a
problem. I need to find more good people like you to offer our
product or services to regularly." That alone will get your
customers drumming up names for you.

2. Your close centers of influence. You've met
this network of people in the course of your daily life; they
really have no connection to the fact that you're a business
owner. You go to the health club because you like to stay in shape,
not because you own the Nature's Way Cafe and want more
business. You go to a certain church or volunteer at the hospital
because it has become your way of worship or of helping out in the
community.

However, there is nothing wrong with letting these people know
what you do. Do not expect business to come your way just because
you and a friend both go to the same health club or work together
at the school carnival's corn-dog booth. Make it known that you
want the chance to prove yourself.

Some people feel they have no right to ask friends and
acquaintances to do business with them. One entrepreneur told me,
"I'm not the pushy type." There's a difference
between being pushy and being passionate. A person who is
passionate about his or her profession has no qualms about using
the following dialogue:

"You and I go back a long way, and you know me better than
a passing stranger. I can take better care of you than any stranger
will. I would never take advantage of our friendship by not taking
your business seriously. If anything, I will put more pressure on
myself to serve you well."

3. Your local business network. Here's a
little personalized poetry from my business history. It may apply
to you, too.

There once was a young entrepreneur who lived in a
shoe.

She had so many children, she didn't know what to
do.

She never joined clubs,

Or hung out in pubs,

But formed her own network with pediatricians and
preachers,

Little league coaches, gas station attendants and all her
kids' teachers.

I never joined professional clubs because I couldn't afford
any more time away from my family than prospecting allowed. I'm
not saying it's wrong to go to meetings, especially if
they're productive for you, but sometimes at networking events
there are several insurance agents, several clothing retailers or
what have you. I wonder how much business really passes between
these people. Most entrepreneurs are looking for leads, not looking
to give them away to competitors.

Here's a more personalized approach that doubles profits
faster: Form your own "board of advisors" within the
community. Eventually, you may want to have quarterly morning
breakfast meetings or luncheons with your hand-picked network. Here
are some prospective board members: a banker, a doctor, a lawyer,
and several small-business owners such as a printer, a dry cleaner,
a restaurateur, a clothier, and an espresso shop or bakery owner.
The key is that no two are in the same business.

Your specially selected board is effective because there's
no one competing against you. My informal board evolved over the
years from doing business with the same doctor, dentist, dry
cleaner and auto repairperson. When I took the children in for
routine checkups, my pediatrician would give me hot leads. Of
course, I recommended his services to many of my friends and
clients, too.

You may already have several informal boards and not realize it,
such as a network of friends from your children's school and
sports activities. Don't feel embarrassed about talking to
these people about what you do. Many businesses are supported by
groups that have become like family to each other.

4. Past acquaintances. Get out your old high
school yearbook, holiday card lists and other memorabilia. Start
taxing your memory for names of people from your past you can
contact. See if your former high-school teacher is still holding
down the fort at your neighborhood school.

Try writing a letter such as this to your former basketball
coaches, dance teachers, or even old bosses:

"It's been a long time since we've seen each other.
You were always someone who brought out the best in me, and I still
remember all the kindness you showed me in the summer of '62
(or "in math class when I was struggling," etc.).

"I am now an insurance broker and am looking to expand my
business. I decided to write to people who have known me well and
worked with me in the past--people like you who know I can be
trusted to do a good job." Include a brochure about your
business or any other applicable information.

5. Your telephone. Every time you find yourself
with a few minutes to spare, dial for dollars. Whenever you think
of a name or lead, follow up on it. Research mailing lists, and buy
some current ones from a list broker. Here are a few quick
telephone tips:

Get right to the point. Allow three minutes to get your
message across. Use normal, but bordering on dramatic, language:
"This is a shot in the dark, but are you 100 percent satisfied
with the people cleaning your office?"

Find a good reason to call a prospect. Maybe it's
congratulations about a new baby or promotion. Personalized reasons
are highly effective.

Report news they haven't heard, such as "The tax
laws change in 30 days" or "Your rates may be going up on
your birthday." Consumers are impressed when business owners
know something they don't know, but need to know.

Obviously, you need to report correct facts, but make this a
habit and impress your prospects in the process.

Use voice mail to save time. It lets you talk directly to
the prospect and get your message across as only you can do. For
example, "Mr. Stolley, I wanted to stop by this weekend and
present that proposal we discussed. Please leave a message on my
machine with an appropriate time."

6. Your territory. This takes time to build.
It's the geographic area you regularly call on to ask for
business. Think of it as if you were a milkman going on your route.
Not everybody in the territory has you deliver their milk, but you
have some customers in the territory--so while you're
delivering, you make a few house calls to improve your odds.

The first stage of building a territory is the "getting to
know you" stage; this takes about six months to a year. Then
comes the "getting to like you" stage where everyone
recognizes your face and may even like you, but they haven't
ordered your product yet. It takes between one and two years to
reach this stage. Finally, there's the "getting to love
you" stage; it takes about two years to reach that level of
productivity.

There you have it--six niches. Work them and grow.

Danielle Kennedy presents sales and marketing seminars and
keynote addresses worldwide and is the author of seven sales books
as well as audio and video sales training programs. Check local
bookstores for her latest book, Seven Figure Selling (Berkley
Press). Write to her in care of Entrepreneur, 2392 Morse Ave.,
Irvine, CA 92614.